[Economic Report of the President (1998)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



Table B-70.--Components of money stock measures and liquid assets, 1959-97
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Savings   Money market  mutual
deposits,      fund  (MMMF)
Other       Small      including        balances
Travelers    Demand   checkable    denomi-       money   ---------------------
Year  and  month                         Currency    checks    deposits   deposits     nation      market
(OCDs)       time       deposit               Institu-
deposits    accounts     Retail   tion only
\1\        (MMDAs)
----------------------------------------------------------------------------------------------------------------------------\2\-------------------------
December:
1959.......................................................       28.8        0.3      110.8        0.0        11.4        146.5        0.0        0.0

1960.......................................................       28.7         .3      111.6         .0        12.5        159.1         .0         .0
1961.......................................................       29.3         .4      115.5         .0        14.8        175.5         .0         .0
1962.......................................................       30.3         .4      117.1         .0        20.1        194.7         .0         .0
1963.......................................................       32.2         .4      120.6         .1        25.6        214.4         .0         .0
1964.......................................................       33.9         .5      125.8         .1        29.2        235.3         .0         .0
1965.......................................................       36.0         .5      131.3         .1        34.5        256.9         .0         .0
1966.......................................................       38.0         .6      133.4         .1        55.0        253.2         .0         .0
1967.......................................................       40.0         .6      142.5         .1        77.8        263.7         .0         .0
1968.......................................................       43.0         .7      153.6         .1       100.6        268.9         .0         .0
1969.......................................................       45.7         .8      157.3         .2       120.4        263.6         .0         .0

1970.......................................................       48.6         .9      164.7         .1       151.2        260.9         .0         .0
1971.......................................................       52.0        1.0      175.1         .2       189.8        292.2         .0         .0
1972.......................................................       56.2        1.2      191.6         .2       231.7        321.4         .0         .0
1973.......................................................       60.8        1.4      200.3         .3       265.8        326.7         .1         .0
1974.......................................................       67.0        1.7      205.0         .4       287.9        338.6        1.7         .2
1975.......................................................       72.8        2.1      211.6         .9       337.8        388.8        2.8         .5
1976.......................................................       79.5        2.6      221.6        2.7       390.7        453.2        2.5         .6
1977.......................................................       87.4        2.9      236.7        4.2       445.5        492.2        2.6        1.0
1978.......................................................       96.0        3.3      250.6        8.5       520.9        481.9        6.7        3.4
1979.......................................................      104.8        3.5      257.7       16.8       634.2        423.8       34.8       10.2

1980.......................................................      115.4        3.9      261.4       28.1       728.5        400.2       63.4       15.9
1981.......................................................      122.6        4.1      231.4       78.7       823.1        343.9      152.4       38.6
1982.......................................................      132.5        4.1      234.0      104.1       850.9        400.1      185.2       49.4
1983.......................................................      146.1        4.7      238.3      132.1       784.0        684.9      137.5       41.4
1984.......................................................      156.1        5.0      243.7      147.4       888.8        704.7      166.5       62.1
1985.......................................................      167.9        5.6      266.6      179.8       885.7        815.2      176.8       64.5
1986.......................................................      180.7        6.1      302.1      235.6       858.3        940.9      210.4       85.1
1987.......................................................      196.8        6.6      286.8      259.5       921.0        937.4      224.6       92.0
1988.......................................................      212.3        7.0      286.8      280.9     1,037.1        926.3      245.9       92.3
1989.......................................................      222.7        6.9      279.3      285.3     1,151.4        893.7      321.7      110.3

1990.......................................................      246.8        7.8      277.4      293.9     1,172.8        923.8      357.1      138.0
1991.......................................................      267.3        7.8      289.6      332.5     1,065.4      1,045.0      371.9      185.5
1992.......................................................      292.9        8.1      339.5      384.4       868.3      1,187.3      353.5      207.5
1993.......................................................      322.2        7.9      385.2      414.5       782.6      1,219.2      354.9      209.5
1994.......................................................      354.4        8.5      384.1      403.8       817.5      1,149.6      384.3      198.5
1995.......................................................      372.6        8.9      391.1      356.5       933.7      1,137.1      455.2      246.9
1996.......................................................      395.2        8.6      402.6      274.8       945.7      1,271.0      523.9      299.3
1997 p.....................................................      426.0        8.2      391.7      242.8       963.7      1,395.4      591.5      359.5

1996: Jan....................................................      373.0        8.9      394.4      345.9       934.3      1,153.8      459.6      250.1
Feb....................................................      373.4        8.9      397.3      340.3       934.1      1,165.1      466.0      259.7
Mar....................................................      375.4        8.9      404.6      337.3       930.8      1,180.2      476.8      263.7
Apr....................................................      376.4        8.8      404.5      333.9       929.5      1,190.1      481.4      263.4
May....................................................      377.7        8.7      407.2      323.5       928.5      1,195.6      484.2      263.6
June...................................................      379.9        8.7      410.7      316.4       928.8      1,204.1      493.2      269.7

July...................................................      382.8        8.6      408.8      308.7       930.5      1,211.0      498.7      274.0
Aug....................................................      385.2        8.4      405.9      300.4       934.1      1,222.7      503.0      278.8
Sept...................................................      387.6        8.5      405.1      292.2       937.3      1,231.5      507.5      285.2
Oct....................................................      390.2        8.6      398.4      283.2       941.0      1,246.3      512.5      288.1
Nov....................................................      392.5        8.6      402.2      276.8       943.9      1,259.0      516.8      292.0
Dec....................................................      395.2        8.6      402.6      274.8       945.7      1,271.0      523.9      299.3

1997: Jan....................................................      397.0        8.6      401.6      272.5       946.8      1,282.5      527.9      296.3
Feb....................................................      400.5        8.6      404.3      267.3       948.2      1,290.5      532.9      305.4
Mar....................................................      402.4        8.5      403.1      261.5       947.4      1,304.3      540.8      311.8
Apr....................................................      403.7        8.3      395.6      257.7       948.9      1,321.1      550.5      311.6
May....................................................      406.1        8.2      395.7      252.8       953.3      1,320.9      546.4      311.6
June...................................................      407.7        8.0      397.2      250.1       957.9      1,325.4      550.5      318.9

July...................................................      410.2        8.2      396.4      247.2       960.2      1,329.9      554.9      324.1
Aug....................................................      412.1        8.3      402.0      247.2       960.8      1,341.4      569.4      329.2
Sept...................................................      415.4        8.1      390.6      246.7       961.6      1,356.7      580.8      338.9
Oct....................................................      418.0        8.1      386.4      244.8       963.2      1,370.2      584.2      345.3
Nov....................................................      421.9        8.2      391.0      243.0       963.2      1,380.2      590.4      346.4
Dec p..................................................      426.0        8.2      391.7      242.8       963.7      1,395.4      591.5      359.5
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Small denomination deposits are those issued in amounts of less than $100,000.
\2\ Data prior to 1982 are savings deposits only; MMDA data begin December 1982.

See next page for continuation of table.


Table B-70.--Components of money stock measures and liquid assets, 1959-97--Continued
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
----------------------------------------------------------------------------------------------------------------
Over-
night and
Large        term      Over-
denomi-      repur-   night and               Short-     Bankers    Commer-
Year and month              nation      chase       term     Savings      term      accept-      cial
time       agree-     Euro-      bonds     Treasury     ances      paper
deposits\3\    ments     dollars              securities
(RPs)      (net)
(net)
----------------------------------------------------------------------------------------------------------------
December:
1959..........................         1.2         0.0        0.7       46.1        38.6        0.6        3.6

1960..........................         2.0          .0         .8       45.7        36.7         .9        5.1
1961..........................         3.9          .0        1.5       46.5        37.0        1.1        5.2
1962..........................         7.0          .0        1.6       46.9        39.8        1.1        6.8
1963..........................        10.8          .0        1.9       48.1        40.7        1.2        7.7
1964..........................        15.2          .0        2.4       49.0        38.5        1.3        9.1
1965..........................        21.2          .0        1.8       49.6        40.7        1.6       10.2
1966..........................        23.1          .0        2.2       50.2        43.2        1.8       14.4
1967..........................        30.9          .0        2.2       51.2        38.7        1.8       17.8
1968..........................        37.4          .0        2.9       51.8        46.1        2.3       22.5
1969..........................        20.4         4.9        2.7       51.7        59.5        3.3       34.0

1970..........................        45.1         3.0        2.4       52.0        49.0        3.5       33.2
1971..........................        57.6         5.2        2.9       54.3        36.1        3.8       32.3
1972..........................        73.3         6.6        3.9       57.6        40.8        3.5       35.1
1973..........................       111.0        12.8        5.8       60.4        49.4        5.0       41.6
1974..........................       144.7        14.2        8.5       63.3        52.8       12.6       49.7
1975..........................       129.7        14.7       10.2       67.2        68.5       10.7       48.1
1976..........................       118.1        25.1       15.4       71.8        69.9       10.8       52.2
1977..........................       145.2        32.9       21.9       76.4        78.4       14.1       64.1
1978..........................       195.6        44.6       35.1       80.3        81.4       22.0       80.9
1979..........................       223.1        47.7       49.8       79.5       108.2       27.1       99.7

1980..........................       260.2        57.4       57.7       72.3       133.9       32.0       99.5
1981..........................       303.8        65.3       77.0       67.8       149.4       39.9      103.8
1982..........................       324.8        67.4       89.8       68.0       182.9       44.5      108.3
1983..........................       316.4        94.5      104.8       71.1       213.2       45.0      136.5
1984..........................       403.2       105.4       96.9       74.2       261.9       45.4      157.3
1985..........................       422.4       119.9       94.0       79.5       298.2       42.1      208.9
1986..........................       420.2       143.3      103.9       91.8       275.8       37.1      231.2
1987..........................       467.0       172.6      108.2      100.6       249.5       44.5      272.7
1988..........................       518.3       189.0      117.0      109.4       266.8       40.2      334.3
1989..........................       541.5       158.0       95.2      117.5       324.0       40.7      344.6

1990..........................       480.9       138.8       88.7      126.0       334.1       36.1      354.4
1991..........................       416.5       119.5       79.3      137.9       328.8       23.8      335.2
1992..........................       353.4       128.6       67.0      156.6       344.7       20.8      365.5
1993..........................       333.4       158.6       66.4      171.5       340.5       14.8      386.6
1994..........................       363.1       182.9       80.8      180.2       383.0       14.0      403.9
1995..........................       419.8       182.1       88.7      184.8       469.9       11.2      439.3
1996..........................       491.4       194.1      113.9      187.0       456.5       12.2      495.5
1997...

1996: Jan.......................       420.9       187.2       92.0      185.0       464.5       11.3      440.0
Feb.......................       426.3       188.9       93.0      185.2       448.2       10.2      443.0
Mar.......................       432.6       187.8       91.5      185.4       458.7        9.9      446.3
Apr.......................       435.4       189.0       94.0      185.8       464.4       10.2      459.3
May.......................       442.5       202.9       94.5      186.1       452.8       10.7      468.0
June......................       448.9       195.6       95.6      186.4       470.5       11.1      470.1

July......................       455.9       194.5       95.8      186.7       473.6       11.5      473.0
Aug.......................       460.4       192.6       96.3      186.9       478.1       11.7      477.7
Sept......................       468.3       194.4       98.9      187.1       483.9       12.0      482.0
Oct.......................       480.9       196.0      105.1      187.1       476.7       12.1      479.6
Nov.......................       483.4       195.3      107.1      187.0       479.9       12.2      483.2
Dec.......................       491.4       194.1      113.9      187.0       456.5       12.2      495.5

1997: Jan.......................       494.8       198.3      117.5      186.8       436.1       11.9      509.1
Feb.......................       504.7       202.1      119.7      186.4       437.7       12.7      517.5
Mar.......................       517.0       200.6      121.7      186.3       441.7       13.5      525.9
Apr.......................       530.4       204.1      126.6      186.2       448.5       12.8      537.8
May.......................       530.0       204.5      133.5      186.2       457.1       13.1      543.9
June......................       537.7       198.7      128.8      186.3       451.7       12.6      555.9

July......................       552.4       207.1      130.5      186.4       431.5       12.9      566.8
Aug.......................       553.9       208.6      135.3      186.5       448.1       13.3      563.9
Sept......................       563.1       205.7      137.4      186.5       453.3       13.0      563.5
Oct.......................       565.3       217.6      133.8      186.5       439.0       13.2      568.9
Nov.......................       573.4       233.5      133.9      186.5       445.8       12.7      577.4
Dec p.....................       579.2       235.9      139.1  .........  ..........  .........  .........
----------------------------------------------------------------------------------------------------------------
\3\ Large denomination deposits are those issued in amounts of more than $100,000.

Note.--See also Table B-69.

Source: Board of Governors of the Federal Reserve System.